>> generally speaking, i think we can all expect that asia, not just the emerging asia, but asia including japan is going to outperform in economic terms the rest of the world, at least for a period of nine to 12 months. we are going to see some recovery in ex ports and the asian exporters are better positioned to take advantage of that. so overall, i think the positive outlook that the adp provides is indeed supported by reality. the one thing i didn't like in their report is the notion that chinese stimulus is somehow hindering consumption in china. i think frankly that's nonsense. i think china needs to, indeed, use stimulus. and if it's used in the right way, for social and physical infrastructure, that will bring consumption up with it. >> christian, what about you? how optimistic are you about asia? >> well, as i said, we are overweight in asia in overall equity portfolio and that's mainly due to the fact that we believe the economic growth is going to be there for a while. also, as a given that especially the debt side of what we are concerned about for europe and the u.s., it doesn

might be taking its cues from asia. whether it's what's going on in gold or all of the m&a news over the past couple of days and the week b for that matter, we see the futures at this point pointing to a much higher open on the dow, the s&p 500. keep in mind that the dow and the s&p are coming off their worst week in nearly two months. moving on to the treasury market, let's check the yield on the ten-year bund right now. it's sitting at 3726% on friday. the price of the benchmark ten-year treasury note here in the states did go down. the yield finished at 3.44%. it was up that day and it was down for the week, however. we have the government coming in with a significant amount of debt to auction off this week, including $38 billion alone in three-year notes and that's happening today. >> as maura mentioned, the story remains what has happened in gold. whether this is concerns over the economic recovery, over inflation, or the weaker dollar or a combination of all that stuff, including the gold jewelry buying season, th

for east asia, chip is assistant secretary for asia d.o.t., derek mitchell work for him.we went at it in these debates. there wasn't a whole lot of big disagreements on the foreign policy with respect to iraq, iran and issues like that. on asia, disagreements on trade the team supported the free trade agreement and the obama campaign didn't. differences on north korea we were a little tougher although now the obama administration is as tough as mccain ever sounded because thanks to the north koreans. but when it came to the u.s.-japan relations we had these debates and then it would become a love fest when it came to japan. there was total agreement. part of this is because japan is not a contrersial topic in mainstream american foreign policy. which is good for the nation and bad for japan scholars and away. part of it is because there had been enormous fights about japan policy in the late 80's and early 90's, ugly fights, which when we were in grade school we checked our heads down as our seniors fought revisionists verses the chrysanthemum cluof fundamental arguments

and i don't see will asia would support the west. people will pie cheaper goods made in asia. i don't think this is going to take place. i think consumption is going to go up in this part of the world for sure, but the beneficiaries are going to be the corporations which produce goods cheaply, ie the companies in china, taiwan, korea, india, and so forth. >> puru, question about that free trade. we got out a report friday that reported there were 121 blatantly protectionist measures being implemented effectively by the g-20. as we head into this meeting this week, what kind of protectionism do you think we'll see implemented? and what kind of impact do you think it'll have? >> well, julia, i really hope that they don't come up with anything stupid because protectionism hasn't had anybody -- in fact, it's led to a depression and world wars and so forth. i think that protectionism would be insanity at this point because the last thing the economy needs is trade barriers. this is a time where people should get together and companies and

i'm christine tan in asia. stocks retreat from a one-year high as the stronger yen hurts japanese exporters. >> hi, everybody. i'm louisa bojesen. avendi makes a $3 million bid for brazilian at the lco. >> i'm mike huckman. in the united states, president obama gears up for a high stakes speech to congress tonight to make his biggest yet for health care reform. >> hello, everybody, welcome. you are now watching cnbc's "worldwide exchange." we're very pleased to have you with us. we'll take a look at the broad based ftse cnbc 300 index indicating relatively flattish trade. 4,203 on this, again, the broad based index. we're seeing a bit of selling taking place in some of the miners. just a bit of money coming off the table with them today. let's switch on and show you the overall european bourses. we started around the flat line, the ftse 100 now a little lower, we're seeing selling in the miners and there's a whole host of companies that have gone ex dividend today as it is a wednesday and that's having an impac

>>> i'm christine tan here in asia, consolidation in the chip sector. bids $1.8 billion for singapore's charted semiconductor. >> hello, everybody, i'm louisa bojesen, makes a $17 billion bid for cadberry. >>> hello, everybody, welcome to worldwide exchange here on cnbc. very glad that you're joining us today and starting off just glancing at our broader market index. let's switch to cnbc global 300. our markets opened to the up side in europe about an hour ago. higher on that chart and our european bosses are indicating more of the same. a few more gains by the ftse and the cac. seeing a lot of emphasis on the food stock after cadbury rejected this offer from kraft. the question is if they'll come back with another offer. rallying higher by more than 35% on the open on the back of this bid. the currency markets, we're starts a brand new clean week. of course, markets off for trade today, canada, u.s., and brazil, all out for holiday. not a whole lot of volume in comparison to what is anticipated usually. but nevertheless, still seeing healthy interests

we've done better in europe than we have in asia. we've seen got green on the board, is smi is up into positive territory. health care and food and stokes have been in positive territory. only slim losses elsewhere. five session necessary a row for the ftse 100. dollar ysh yen, 91.10. sterling/dollar, under pressure. we've seen both public borrowing surge and continue to stall in the uk. i'm sure that will be a focus, as well, for the currency traders. let's get a wrap on that, how we've done in asia for the stock markets. maura. >> ross, the asian markets fell back today on this friday. in some cases by the weak sens session, you can say it ended lower on the week. shanghai level dropping 3% on worries that perhaps the trade war escalating into a full blown trade war. steel stocks in particular were hit hard in shanghai today on reports, local media reports that the u.s. is going to impose some trade tariffs on chinese-made steel imports into the united states. the hang seng being pulled back by that weakness, down by 0.5%. tokyo fa

in asia, markets are on the tear. stocks at their highest in 13 months, a host of global recovery is strengthening. >> i'm ross westgate here in europe. shares saw today in irish banks after a bad bank planned was unveiled to revive the country's ailing financial system. >>> and i'm julia boorstin in the united states. investors will be watching the housing starts and weekly jobless claims. will bernanke be right that the recession is likely over snch. >>> hello and welcome to cnbc's "worldwide exchange." stocks continue to rise and the dollar continues to weaken. that seems to be the story as we look toward the u.s. open a little bit later. the ftse cnbc global 300 is currently up 23 points. not quite percentage gains on the bourses, ftse 00, nearly up 1%. xetra dax up 0.7% as well as the cac 40. smi up 0.5%, as well. the ftse 100 is aiming to post its best quarterly performance since the index was set up back in 1984. on the currency markets, the dollar is down at a one-year low. the euro hit a fresh one-year high a

speaking of the yen, speaking of asia, how are you and how is asia looking? >> i'm always good on a friday. i'm always perfect on a friday. here in asia, markets are looking a little less than perfect all with the exception of what happened in japan, of course. this particular market down 0.6%. elsewhere, the strong data from china really gave investors a chance to get back, put some respects on the table, get into the markets again. the kospi is up 0.4%. the shanghai composite is up 2.2%. the premier said the government would continue massive spending and that's continue to go lift sentiment in the market. the hang seng up 0.4% higher and the australia s&p/asx 200 is up, as well. >> thank you, christine. we're negative across the board on futures by about 16 points in the dow and basically about 4 plus points in the nasdaq and is s&p 500 also slightly weaker today. we have michigan consumer sentiment leading the way in terms of data points. quick look at the u.s. ten-year note, 3.34 $3.34 at our last ch. we'll keep an eye on that. christine, right back at yo

for southwest asia joint planning group, a comprehensive oversight plan for southwest asia, and our many investigative task force is. in addition, in may 2009, the joint planning group established a new subcommittee to coordinate audit and inspection work solely in afghanistan and pakistan. this subcommittee chaired by the inspector general for the u.s. agency for international development, mr. gambatesa, issued in august 2009 the afghanistan pakistan conference of oversight plan. i think the committee for the opportunity to discuss our ongoing efforts, and i look forward to continuing our strong working relationship with congress, and all oversight organizations engaged in afghanistan and pakistan. >> good morning, chairman tierney, ranking member flake, members of the committee. thank you for inviting me here to testify today on behalf of the office of inspector general for the u.s. agency for international development. i am pleased to be here along with my colleagues from other oversight organizations with whom we work closely as execute our audit inspection and investigative responsi

>>> i'm christine kohn in asia. the nikkei falls to lowest close in six months. >> i'm steve sedgwick, in europe, a second term in office and gets her dream coalition with the prohibition democrats. >>> and the u.s., investors begin to look to third quarter erjs as the next big test to the recove recovery. >>> hello, and welcome to cnbc's worldwide exchange. let's take a look at the markets with a look at the cnbc global 300 index, which is continuing, i'm afraid on the downward momentum of the previous week. down .641%, but september hasn't yet proved as bad as many who feared we would see some severe declines after the rallies over the previous months. in terms of the individual european bosses are alive and trading at the moment. the xetra dax, still down. more about that of course throughout the show, but live through berlin throughout the show. between .5% and 1.3%. out regarding the strength of the yen, it pulled away from the recent highs. dollar/yen at 89.56. the euro dollar 1.46. and off its lows, but still

and asia has talked the talk but it hasn't walked the walk. it needs to invest aggressively in social security, private pensions, medical care, and unemployment insurance. until it does that, asians will remain predisposed towards excessive levels of precautionary saving and be reluctant to stimulate internal private consumption. >>reporter: but unleashing consumption could result in an aftershock: high levels of inflation. undeterred, china says the social security landscape is changing - and will encourage multiple service providers. which is great news for foreign companies - which have been salivating over this potentially huge market since china joined the wto in 2001. but the government says the necessary reforms must be carefully managed. with the global economy still fragile, the great exporter's performance is, today, neither stable, nor balanced. >>mackie: premier wen warns foreign executives not to pin all their hopes for a quick recovery on china. he promises to speed-up efforts to boost domestic consumption by opening up the count

here in asia, markets are mostly weaker today. trade in south korea, shares ended 0.4% lower after hitting a 5-month previous low in the previous session. hynix is down 5.4% after news that there is only one bidder for the company. hyosung is down almost 15%. in china, shares sank to a low on supplies worrying about sentiment despite president comments from president hu on the economy. meanwhile, the hang seng closing 0.5% today at 21,595. we have shares in geely automobile was holdings also in focus that climbed after the carmaker confirmed that goldman sachs is making a $334 million investment in the company. in australia, the s&p/asx 200 was the winner with a game of 1.5% today. strong commodity prices lifting shares there. new zealand stocks, we don't always focus about that, but today we do. why? because q2 gdp data surprised to the upside, ending the company's longest recession ever. julia, on that note, let me throw it over to you. >> thanks so much, christine. the calendar in the u.s. is free economic data today, but there

asia started the recovery, the emerging markets of asia and north of asia, china, japan, korea, they started the recovery process and they may indeed be the first ones to raise interest rates, but we don't anticipate this in the course of this year, so well into early 2010. >> dave, they're going to stay on hold for 2010, presumably, the bank of england is going to be much longer than that. we know from the last minutes, that the governor wanted to do even more than what they announced. >> we don't expect them to raise the limits any further than what they have during the session today. presumably, they will wait for a few more economic data to come in, but the interest rates will remain low for quite some time, also well into 2010 in our view. >> and this is mike huck man in the states. it looks like things are stabilizing overnight we got the blue chip economic indicator survey which is essentially calling for a jobless recovery next year. so pick a letter, if you would, please, is it going to be an "l," "v" or "w"-shaped recovery? >> if i have to pick a letter, i'll go for the oou

german chemical giant basf is betting big on asia.investing nearly $3 billion in the region by the year 2013 and also aiming to double its sales here by 2020. basf says it is optimistic about the region's long-term prospects. here to tell us why, dr. martin brudamueler is director of the board of directors. this is a first on cnbc interview. thank you so much for joining us today. why don't we start by talking about what you've been doing lately. you've been a busy guy. you're expanding your joint venture with sinopec. tell us what you're seeing in that country that makes you so optimistic. >> well, i think the confidence in asia, particularly in china is very high in the moment, definitely much better than in europe. it is fueled by the stimulus program of the chinese government, which brings subsidies to appliances in rural areas and subsidies in cars, and that is directly translating into chemicals. we have always believed in the chinese market had a an early, very solid commitment to china. we expect china has an attractive growth

christine, what has been going on in asia? >> the nonfarm payroll numbers that you're talking about, that's keeping investors here cautious. that gave way to caution about the jobs data later today. the nikkei 225 is down 0. % as well as the kospi. the shanghai market getting a bit of a lift on news banking regulators said it was in no rush to tighten capital requirements. the hang seng getting a late boost on comments from china that it would upping its stock investment limits by foreigners. and the bombay sensex is up 2%. nymex sweet crude at the moment, up 67 cents, $68.63 a barrel. and brent, as well, putting on gains, $67.60 a barrel. louisa. >> let's move on and talk to james bevan. he'll be with us for the next hour. again, get your e-mail questions or comments in to the man. worldwide@cnbc.com. and james, you've got some interesting points that you bring out. you say that many investors at the moment are materially underweight continental europe and this looks wrong to you. >> i see people very very pessimistic about t

more focus in asia, julia. when wall street titan lehman brothers was forced into the bankruptcy, it pushed the markets to collapse. led to the biggest recession since the 1930s, and within 24 hours, $700 billion had been wiped off markets around the globe. dow jones slumped 500 points, the biggest one-day fall since 9/11. and in this special edition of "worldwide exchange," we're going to trace the global fallout and assess what's really changed for investors, bankers, regulators, and business leaders right across the globe. we're going to be joined by an extraordinary lineup of guests, including jim rogers and lord lamont, the weekend that changed the world with special reports, as well, from london, hong kong, mumbai, and plenty more. and we'll also examine the worlds of banking, regulation, and economics to find out whether we've changed enough to prevent another lehman catastrophe in our system. >> and of course we are bringing you an international perspective out of all of that. and on the news of the day

investment in asia.rom that time when we saw each other we have a lot of opportunity in europe and united states so we did a lot of things. we are following the good deal. nobody knows what the good deal. up until now thank god things have gone well for us as a qatar investment. we did a few deals this year and it has been proved it is working well. >> how is barclays doing? you cut your stake in barclays but you are a sizable investor. >> we cut it by less than .5%. i think a little bit. we believe in it. we will stay in it. and the stocks remarkably went to the price which we think is the right price. >> what about credit suisse? >> it is doing very well. as you know, it is the most capitalized bank now in the world. it is number one in that aspect. we have around 10%. we are strategic investor there. >> what other financial services institutions might represent a situation for you? are you investing in america? >> we are. >> what is most important in investing those situations. >> the problem is how t

>> first we've already seen it in china and the rest of asia. if you look at every economic indicator out there, it looks like a v. we actually think that rapid growth phase is ending. in other words, you're going to see countries like korea slow down a bit. above-trend growth seen in europe now. the next place, believe it or not, is the u.s. the u.s. for the rest of this year is going to look much more like a normal recovery. >> i want to talk about the u.s. first i've got to get your take on europe here. because we did see positive gdp readings in both france and germany. >> right. >> a lot of people have come on the show and they're questioning how sustainable that really is. when you were on the ground in europe, when you were on the ground in france and germany, do you really feel like things have turned? >> i think you're making a very good point in that we're seeing the events now, a lot of it's inventory. they had a big auto sales push from some fiscal initiatives. but you're probably right, one, you've got a strong currency there. you h

christine in asia. >> hello, louisa. investors taking the fed statement to mean that, you know what? the fed statement is going to trim support for the economy and that low interest rates will gaully come to an end. however, one market bucking the overall trend is the japanese market coming back to play catchup from a three-day holiday. moving higher 1.7%. the shanghai xoty recouping earlier losses there. the hang seng down 2.5%. the interest rate sectors like banks and in terms of nymex light sweet crude, it is falling back to the $68 level, concerns about the demand picture, up a huge buildup in crew stocks, 62 cents lower, $68.36 a barrel. and brent pulling back, as well, at 57 cents, $67.42 a barrel. julia. >> thanks so much, christine. joining us now for market strategy is the director of research at h ae versford investments and still with us is andy hartwill. jason, we've been talking about the fed and what to makes office though comments yesterday. what's your reaction and what do you think is the impact of their

pulls out of asia-- they will be responsible. anyway, and not sure we want to assess the pieces or will, but japan and china come asianness historically had a hierarchical relationship and others have said this is the first time where japan and china are powerful of the same time. china is moving up in japan has an awful lot of national power and it is deeply uncomfortable. you can see it in the opinion polls in the deep anxiety about china in japan. it it is poisoned dumplings. it is pretty broad. at the same time china has been japan's largest trading partner for about four years. a very complicated mix of rivalry that will not change. in the near term, at this government has been very clear, at this new government, they want to try to move closer to china. they will not emphasize history issues. that is a good thing. it is in el interests for japan and china to have a closer relationship. -- it is in our interest. there may be a danger that if the government tries to heart they will start provoking a reaction at home because o

, lots and lots of optimism here in asia. today wasn't exactly the best example of that. in fact, i've been sitting here watching this trade in dollar to the nearly 1%. traders call it an excellent barometer of both risk appetite and today it's risk averge and commodities could also be down today. i also wanted to say we could be soon expecting carmaker to announce an investor by goldman sack's equity fund. they are gearing up to buy volvo from ford. that was pretty big news out here today. so they that could be something you could watch over there as well. >> what about you, ross? we always do this, what's your one thing? what's your one thing today? >> i think it's the fact that currency traders here in london have closed up their shorts on the dollar, erin. they'rer in voice. that's the reason to steer it. and because the dollar has risen as a result, we see that correlation between the dollar and stocks and s&p 500, both are in lock step together. it's i think that. we just seen a close in up from the dollar and have an i

pulls out of asia-- they will be responsible. anyway, and not sure we want to assess the pieces or will, but japan and china come asianness historically had a hierarchical relationship and others have said this is the first time where japan and china are powerful of the same time. china is moving up in japan has an awful lot of national power and it is deeply uncomfortable. you can see it in the opinion polls in the deep anxiety about china in japan. it is chinese submarines, it is nuclear weapons, it is chinese blocking japanese and diplomatic negotiations around the world. it is poison dumplings. it is pretty broad and yet at the same time china has been japan's largest trading partner, larger than us, for about four years now so it is a complicated mix of rivalry and interdependency that fundamentally won't change. in the near term i think this government has been very clear, this new government, hatoyama, they want to move closer to china. they want to emphasize history shoes. that is it that thing as kurt said, it is synergi

are you saying demand is going to return from asia sometime in the future?hat's not a strong argument. >> no. i've been bearish for a long time and think oil should be trading below $65 a barrel. dan is right that the ties to the dollar has been very strong and as long as that continues, then that will provide the future direction for oil prices. i will say that the analysts i speak to are really starting to think the dollar rally, or the euro rally is looking overdone, particularly at the end of the third quarter. we could start to see a pullback in the strength of the euro. >> addison, are you selling? >> i'm a broker. >> would you advise? >> i'll take a stand, melissa, because i'm a trader and i'm sell right now. the dollar looks to me to be begin extremely overdone. i'm going to go opposite from everybody else and say we're going to see a technical rally and i'm looking for oil to give us a 50-handle. >> when? >> not far and coming. a couple of weeks ago. what you'll find is you'll have people looking to buy the different oil and then a downdraft. >> you

liquidity has freed up in asia and we see very, very substantial growth in asia right now. >> are youeeing tech spending actually increase? >> the strategic technology investments will be invested in. the tactical ones will be cut. we like to think because we control business processes for the biggest, also mid and small companies in the world in 25 distinctive different industries we will get those investment dollars. other companies won't be as lucky. >> bill, there's a great "new york times" article august 10th about you guys being softer on the -- one of the few if only out there. can you stay independent that way? can you compete on a global scale against the oracles, microsofts, the ibms software only? >> it's a great question. the reality is we should be a business software company. because what customers want is they want a company that's relevant in a business network. and this idea of a collaborative ecosystem that builds their business models around our technology platform is the fuel for the future. this idea of a vertically integrated stack of technology end to end is a 2

indonesia, really throughout asia, largely throughout asia. in america, we have one car per person. we're going to be replacing our cars. that is a big question that what i'm going to replace our cars with. are going to replace them with the 20-mile per gallon suv that we already own or something ally novel. >> is the american dream and the american car dream gone in your view of? >> i think that the dinosaur vehicles and that we drive should be gone. i think mobility is not gone. we will want to be as mobile as ever. will have to think of far more creative ways to be mobile and cars that get 80 or 100 miles per hour using our blackberries to hook us up with automatic car share services, using paratransit to pick us up where we have to go. we have already started telecommuting, not always coming. when i wrote this book with advanced berling, i think that we ended up getting together in five years of writing a few times that we had a virtual experience writing this book. so there uasn't a lot of miles or oil or car trips or airplane trips in this book. and i think that's a type of pr

versus asia. asia actually, timmy's not here, but timmy, asian ipo $8.2 billion in offerings this year. u.s. 3.6. they're also getting profits from the secondary offerings as well. steve grasso, which names do you like based on that? the trade off the trade. >> i will tell you in the reit space there's a lot of these hybrid reits. i know karen has been in s.l. green. i don't know what your last position there is. >> flat. >> select medical holdings, that cam out today, which is a weird reit, but i think what they're doing is raising money in an environment that it's a lot easier to raise money in. i would expose myself there. >> i would regret saying that. unbelievable. i like what guy said. i think this is phenomenal for the credit markets, phenomenal for the equities markets, and also, let's not lose the revenue contribution that names like morgan stanley, goldman sachs, and jpmorgan are going to get participating in these deals. that space is consolidated. these are the three leading players ri

also the author of "the next front, southeast asia." question for the next little while is should the u.s. hold high level talk was tuba and what can be achieved by this? a senior american dip owe mat has held unannounced, high level talks in cuba. the u.s. deputy assistant secretary of state remained in cuba and met with local officials and had talks on renewing postal services between the countries. it went from there. this is the first time the u.s. has had talk there's in quite a few years. the last time was 2002. williams extented wide ranging and unpublicized trip was from the last trip to cuba. they were more significant for having taken place. do you think this is something the united states should be doing with its top officials? this story in the "new york times" also looking at this meeting, the state department officials say the main purpose of the trip was discuss the to restart mail service between the u.s. and the communist ruled country. host: state department officials offered few details accord together "new york times

the southwest asia joint planning group, the comprehensive oversight plan for southwest asia, and our many investigative task forces. in addition, in may 2009, the planning group established a new subcommittee to coordinate audits and inspection work solely in afghanistan and pakistan. this subcommittee issued in august 2009 the afghanistan/pakistan comprehensive oversight plan. thank the committee for the average 90 to discuss our efforts. i look forward to continuing our strong working relationship with congress and all over such organizations engaged in afghanistan and pakistan. >> good morning. thank you for inviting me here to testify today on behalf of the office. i am pleased to be here along with my colleagues from over -- other oversight organizations for whom we work closely as we continue our responsibilities. mr. merkley, my office has overseen programs from our regional office, increasing our staffing levels has increased. we have recently established a full-time presence of officers in this country, placing an auditor and investigator in kabul and two auditors in is lama

the asia-pacific region has been hit by tsunami and earthquake. there has been a series of natural disasters in no more than 24 hours. 100 were dead after a tsunami. then, an earthquake hit the island of sinatra. it is not that thousands are trapped under the rubble. -- is nthought that thousands are trapped. >> thousands run out of their homes in panic after a devastating earthquake. the powerful tremors caused buildings to collapse. many homes, schools, hospitals have been effected. thousands of people could be trapped under these structures. the indonesian vicepresident warned that the death toll in this tragedy is likely to rise. the closest and largest town near the epicenter is the capital of sumatra. it is home to at least 900,000 people. rescue teams have been sent to the city but there are concerns that will not get there in time. indonesia is no stranger to tragedy on this scale but it's an emergency teams are often ill-equipped to deal with them. >> people on the pacific islands of samoa were counting the cost of the tsunami that hit th

earlier this month during a raid, they killed one of southeast asia's most wanted men and three other suspected militants. it was here when the laptop containing the video footage was found. police believe he masterminded the suicide attacks on the two luxury hotels and was believed to be behind a number of attacks in the country over the last several years. >> the latest headlines for you on bbc world news. a human rights group in guinea is saying more than 150 people were killed on monday when security forces opened fire on protesters. a massive relief effort is underway in the philippines as typhoon ketsana continues its course of destruction. saving the global banking system, but the ratings at home for britain's prime minister are nothing short of disastrous. he has been addressing the labor party before the next general election. >> the labor party was in real need of a confidence boost after months of the press and opinion polls. before taking to the stage himself, mr. brown wanted his best assets, his wife sarah for a quick testimony. >> he is messy, noisy, he gets up at the t

the asia-pacific region has been battered by a tsunami and an earthquake. a series of natural disasters in no more than 24 hours. huge ocean waves samoa on tuesday. hundrethen a quake hit the indon island of sumatra. officials say up to 200 people have been killed. it is thought that thousands are still trapped under rubble. we have this report from indonesia. >> chaos and panic as frightened residents rushed out of their homes after a devastating earthquake hit off the coast of sumatra. the powerful tremors caused dozens of buildings to collapse. officials say many homes, schools, hospitals and hotels have been effected. thousands of people could be trapped under these instructors. the indonesian vice president warns that the death toll is likely to rise. the closest and largest town near the epicenter is the capital of sumatra. it is home to let least 900,000 people. disaster teams have been sent to the city. there's concern that it won't get there in time. indonesia is no stranger to tragedies of this scale but it's a emergency teams are often ill- equip

are you still looking at asia in terms of the growth for the world? where in your view is it? >> when i was in china a few weeks back, i spent a week there, it's quite hard to see any sizeable economic slowdown there. there's obviously still quite strong growth. where i go in the middle east, again, you can see see pretty sg growth. india. i think particularly after now the election of the new government, the political situation settled there, it's strong there too. but the question would still be the western economies are still a major part of the world economy. can we move out of a sort of bouncing along the bottom recovery and move to something stronger? >> final question. what would you like to see come out of the g-20? what would you like to see that you walk away and say this is a success? >> i mean, i think what happened at the london summit was very important because it gave us clear direction. i think what people want to see this time is a continued clear direction. a sense of coordination, coming together, the major economies of the world. at least agreeing on a basi

we have the global picture from our correspondent in europe and across asia. our other main headlines -- iraq's shoot report is released and claimed he was tortured in jail. fixing zimbabwe -- the country is slowly on the mend, but leaders are feuding. and, he took the baby out of that corner. a tribute to patrick swayze. >> this time last year, the world was teetering on the edge of a second great depression. americans had decided not to save lehman brothers. ben bernanke is a cautious man who chooses his words carefully and says it's very likely the recession in the u.s. is over. in one minute, we will hear from bbc correspondent across the globe. [audio difficulties] >> a day after scolding wall street, the president is trying to sue the main street. [audio difficulties] >> you work hard, you meet your responsibilities, you deserve better than the attitude that has prevailed in washington and wall street and sometimes in detroit for far too long. an attitude of values well over work. >> easy enough to say, but harder to deliver. but this might be a sign thi

we have the glal picture from our correspondent in europe and ross asia. our other main headlines -- iraq'shoot report is releas and claimed was tortured in jail. fixing zimbabwe --he country islowly on the men but leaders are feuding. and, he took e baby out of that corn. a tribute to patrick swayze. >> this me last year,he world was etering on the ee of aecond great depression. americans had decided not to save lehman brothers. benernanke is a cautious man who chooses his words carefully and says it'sery likely the cession in the u.s. is over. in one minute, we willear from bbc correspondent acrs the globe. [audio difficultie] >> a day after scolding wall street, the present is trying to s the main street. [audio difficulties] > you wo hard, you meet ur responsibilities, youeserve better than t attitude that s prevailed in washington and wall sreet and sometimes in detroitor far too long. an attude of values well over work. >> easy enough to say, but harder to deliver. but is might be a sn things e improving. this -- a [audio difficults] >> om a tent --

>>e is known athe most want man inoutheast asia. he i beeved to hve mastermind attacks on two luxury hotels in july. police have been looki for him for severa years,ut so far he has deluded the indonesiup's present says his debt along with te death of anothe milita in 2005 is a significant victory for the country. >> i amoping, i believe, that codeach a certain mass of areas that arehreatening indosia. >> thdeathf top is a huge coup for the anti-terror unit. his death is a big blow to t extremists who want to follow the al qaeda line ofaging war on unitedtates and its allies wherever and whenever ssible. >> analysts have also said that his death does nomean the end that teats have this care. other mbers of the network remain at large a are capable of crying out similar attacks. >> check out the spirit is a version of rannosaurus rex. it is almost identical to the king of dinosaurs, but this is almost 100 times smaer. it is believ to have lived rlier th tyrannosaurs recordhe remains were found in northeastern chin and smuggled out of

pulls out of asia-- they will be responsible. anyway, and not sure we want to assess the pieces or will, but japan and china come asianness historically had a hierarchical relationship and others have said this is the first time where japan and china are powerful of the same time. china is moving up in japan has an awful lot of national power and it is deeply uncomfortable. you can see it in the opinion polls in the deep anxie about china in japan. it is chinese submarines, it is nuclear weapons, it is chinese blocking japese and diplomatic negotiations around the world. it is poison dumplings. it is pretty broad and yet at the same time china has been japan's largest trading partner, larger than us, for about four years now so it is a complicated mix of rivalry and interdependency that fundamentally won't change. in the near term i think this government has been very clear, this new government, hatoyama, they want to move closer to china. they want temphasize history shoes. that is it that thing as kurt said, it is synergist. do

in asia, better than expected news about china's economy pushed most markets higher. but as the value of the dollar continues to drop, so does japan's nikkei, which was down another 70. wall street is on on a roll, though. up for the fifth straight day yesterday. the dow gained 80, closing above 9600. the nasdaq was up 24. traders are watching closely for today's key consumer sentiment report. consumer spending drives more than 70% of the u.s. economy. and until folks start spending, the recovery had had likely remain slow. treasury secretary timothy geithner says confidence and stability are replacing the fear and panic that gripped the markets last year. geithner told a congressional panel that the government will now end some of the emergency financial programs launched during the financial crisis. now, the treasury secretary says 23 banks have repaid the government in full. it looks like the cash for on clunkers reimbursements are finally accelerating for dealers. $1.22 billion worth have now been approved and the government hopes to have it all paid out by the en

. >>> stock markets in asia took heavy losses this morning. karen brown with more. >> and good morning to you, michelle. in asia the markets were down this morning. japan's nikkei dropped nearly 250 points. september is notoriously a bad month for wall street and is starting out just as expected despite encouraging news for housing and manufacturing. the markets took another tumble yesterday. the dow lost 185 points, the nasdaq fell 40. the financial sector led the selloff as investors are concerned that more banks may fail. but wells fargo says things are going so well, they want to repay their $25 billion in bailout money. they want out from under the government's thumb and to ease scrutiny over executive compensation. and a new report out today says that half of the 20 financial firms that grabbed the biggest chunks of bailout money gave their executives a raise of sorts. the top executive saw the value of their stock options increase nearly $90 million. >>> and the auto numbers are out, but not everyone came out ahead. only ford saw a big

the play is on asia 3 g. that makes systems for telecom carriers and has increased wire data services are demanding and 3 d, online a judge unfolds at the right place at the right time. any i phone with a default? at a think is gonna be a big drive a big driver is a treaty licenses as well as the restructure of the china industry there is an additional carrier will bring the mix of three they sell to all three and suddenly the old networks compete to get people's businesses. one metrics other than the strength of the network. you are hot on china? we loved her and we love pretty this is a combination of both. we have another picture online one that is up better than 600% we will tell you what it is just go to a website at first business x. c o m. thanks. online items hundreds of thousands of struggling homeowners getting help from uncle sam.... but there's still a lot more people who may be missing out on help...on our website see why housing counselors say banks could reach out to more homeowners. plus, u.s.

, we had identified him as noordin mohamed top. >> he is known as the most wanted man in southeast asia. he is believed to have masterminded attacks on two luxury hotels in july. police have been looking for him for several years, but so far he has deluded them. indonesia up's president says his debt along with the death of another militant in 2005 is a significant victory for the country. >> i am hoping, i believe, that we could reach a certain mass of areas that are threatening indonesia. >> the death of top is a huge coup for the anti-terror unit. his death is a big blow to the extremists who wanted to follow the al qaeda line of waging war on united states and its allies wherever and whenever possible. >> analysts have also said that his death does not mean the end that threats have this care. other members of the network remain at large and are capable of carrying out similar attacks. >> check out the spirit is a version of tyrannosaurus rex. it is almost identical to the king of dinosaurs, but this is almost 100 times smaller. it is believed to have lived earlier than tyrannosaurs

decent day in asia. japan is still on a holiday, although the asian development bank did raise their forecast for economic growth for 009 and 2010 they're talking 6% growth. ty a look at oil. we've talked about supply this week. the dollar, as you mentioned, down almost across the board. yeah. 91.34, almost to 1.48 euro. the year high is against the dollar. and with a weaker dollar, is gold rebounding this morning? >> yeah. up 12 bucks. $1,017.70. >> equity res rather oil, everything is up, but bonds are down -- or the yield was down, wasn't it? >> yeah, a little bit. >> let's get overseas and see what's happening around the world. christine tan is in singapore, but before that, geoff cutmore is in london. hey, geoff. >> we've got the likes of bhp billiton, rio tinto, all those big mining companies listed on the london exchange are up about 1% to 2% at the moment and that's helping lift the european markets as a whole. i'll show you how that breaks down sectorwise. and it is the basic resources. the trav

joining us is the editorial page editor for "the wall street journal" asia.were you able to get into the governor's speech? >> no, greta, no media was allowed in the speech, as hard as we try. there were reporters camped out in front of the grand hyatt, but we did get a transcript of what she said. greta: any sort of thoughts on how the speech was received? what she talked about? >> i sure did. it was basically good red meat for conservatives. it was a very wide-ranging talks. she talked for over one hour. it was on everything from u.s. healthcare to the deficits to the relationship with china to trade protectionism, so it was a very wide-ranging talk, and i think it was well received. greta: who was the group that she spoke to? >> she spoke to a local brokerage firm for the asia/pacific markets, a boutique . in previous years, they have had other big names. for example, bill clinton was here, but the palin visit attracted, i think, the most attention they have had for this conference. greta: did she talk about the war on afghanistan -- in afghanistan? to cov

we had a softer picture out here in asia. a lot of reduced volumes given a lot of the markets are closed, ie, japan, singapore, india, let's talk about china. we have the market actually trading mostly in negative territory for most of today. but as you can see, actually managed to pull higher by about .2%. we had some support from the retailers given next week the chinese are going on a week-long move because of the national holiday there. on the other hand, though, plenty of concerns about ipos coming on to the market today, we have the world's largest, second largest ipo, china metallurgical had a pop of 28%, this is nothing compared to the average. we're talking about 60%. and going forward, there's going to be a lot of worries about the amount of liquidity coming on to the market, especially as we heard today, 13 approvals for ipos in this nasdaq-style board over in chen sen. 13 ipos together take up about $500 million. but already another ten companies are going on road shows to raise money. and these concerns appear to

the problem of increasingly proliferated world especially in asia. the whole issue of what to do about china who is engaged in the military buildup to push us further and further out of east asia. and these are problems that are not going away any time soon. it is not something you can address with a band-aid. it needs a strategic focus to come up with a strategy that maximizes your effectiveness and minimizes use of resources. >> how do you fix this problem? it is interesting that you guys note in the study strategy may be a game anyone can play but the evidence is strong that few can play it well. assuming you have exceptional people who do it, what are the fixes to removing obstacles? >> one in particular and one that president eisenhower emphasized was the persistent attention and focus to strategy by the senior leadership of the country. for example, in his first term ike held 179 meetings of his national security council and only al plowed the principals in the room. the discussion were strategy in terms of their focus. ike would say, look, the

a difficult morning in asia.about whether or not this tire deal is the beginning of a new -- >> united steelworkers were the guys petitioning for relief. uaw probably wishes they had.gú usw. that compounds the problem, fuel prices, may have ramped up production too quickly, steel prices. >> speaking of which, that's a good lead into the next guest, a year after lehman failingly collapsed and took the mashts with it. we're looking back to's how great the affect on the crisis. nouriel roubini, chairman, international business school of business. good to have you back. >> pleasure being on your program again. >> your thoughts a year later. with that you can take it in any direction as to whether or not they should have been saved, whether or not not saving them allowed us to later on save other bigger players. a lot written over the weekend about the lessons and mistakes made. >> first observation, the interpretation only save lehman things would be fine and cause of the financial was letting lehman go. i think peop

. >>> in south asia, how drought is one factor causing a poor harvest of sugar cane, soaring prices and even sugar rationing. >>> and we will visit a pristine place in southern africa described as a lost eden, untouched for now by destructive forces. >> from the world's leading reporters and analysts, here's what's happening from around the world, this is "worldfocus." made possible in part by the f5 following funders -- major support has also been provided by the peter g. peterson foundation, dedicated to promoting fiscal responsibility and addressing key economic challenges facing america's future. >> good evening. i'm daljit dhaliwal. we are going to do something a little different tonight by taking a broad look at one subject that is in the news this week, the global environment. in just a few months, the united nations is going to hold a major conference on climate change in copenhagen to try to reach a new agreement to cut greenhouse gases. it would replace the current treaty, the kyoto protocol, which expires in 2012. and it is in that context that the united nations secretary ge

they'll apply some of the money to subsidiaries in asia and the u.s. remember, the financial institutions are facing stricter capital adequacy requirements. this was the communique out of the g-20 finance summit out ofland and guilty by association, the big cap banking stock fell heavily on the backs of nomura news having to raise more money because they will likely, as well, have to face the prospect of boosting capital ratios in japan. on that note, it's back to julia in the u.s. >> thanks so much, adam. investors will get a slew of economic reports to wrap up the trading week following a 5% surge in july. at 9:55 a.m., the final report for consumer sentiment for september will be released. analysts look for a reading of 70.5 up slightly from the preliminary estimate. then at 10:00 a.m. new york time, august sales are up, forecast at 1.6% to an annual rate of 440,000. >>> fed chairman ben bernanke will give brief economic remarks in washington. at 9:00 a.m. he'll then take part in a question and answer session with california congresswoman maxine wat